Tour v303
WBD
WARNER BROS DISCOVER Series A
$26.15 +0.11%
$26.19 (+0.15%)🌙
as of 07/08 07:14 PM
(7/7 19:13) ◀
|
Wednesday, July 8, 2026 (7:14pm)
January 2026
|
▶ (7/9 19:14)
◀ 7/8 19:14 ▶

Option Volume

Detail
ℹ
Current (07/08) 34,002
Calls: 11,123 (33%)
Puts: 22,879 (67%)
Prior (07/07) 244,931
Calls: 21,448 (9%)
Puts: 223,483 (91%)
Current vs Prior -86.12%
Calls: -48.14% (Calls)
Puts: -89.76% (Puts)
Prior 7-Day Total 631,422
Calls: 170,732 (27%)
Puts: 460,690 (73%)
Prior 7-Day Average 90,203
Calls: 24,390 (27%)
Puts: 65,812 (73%)
Current vs Prior 7-Day Avg -62.31%
Calls: -54.40%
Puts: -65.24%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (07/08) $2.51M
Calls: $259.2K (10%)
Puts: $2.25M (90%)
Prior (07/07) $29.85M
Calls: $756.9K (3%)
Puts: $29.09M (97%)
Current vs Prior -91.60%
Calls: -65.75%
Puts: -92.27%
Prior 7-Day Total $58.65M
Calls: $14.70M (25%)
Puts: $43.95M (75%)
Prior 7-Day Average $8.38M
Calls: $2.10M (25%)
Puts: $6.28M (75%)
Current vs Prior 7-Day Avg -70.07%
Calls: -87.66%
Puts: -64.19%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (07/08) 2.06
Prior (07/07) 10.42
Current vs Prior -80.26%
Prior 7-Day Average 2.32
Current vs Prior 7-Day Avg -11.37%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (07/08) 1,188,063
Calls: 468,747 (39%)
Puts: 719,316 (61%)
Prior (07/07) 1,436,072
Calls: 483,998 (34%)
Puts: 952,074 (66%)
Current vs Prior -17.27%
Prior 7-Day Total 9,818,160
Calls: 3,533,809 (36%)
Puts: 6,284,351 (64%)
Prior 7-Day Average 1,402,594
Calls: 504,829 (36%)
Puts: 897,764 (64%)
Current vs Prior 7-Day Avg -15.30%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (07/10) | Next (07/17)Expiry (07/17) | Next (08/21)
Current 4.78% | 7.80%7.80% | 13.65%
Prior 5.90% | 6.78%6.78% | 14.40%
Current vs Prior -18.92% | +15.12%+15.12% | -5.16%
Prior 7-Day Avg 5.05% | 9.42%7.73% | 16.04%
Current vs 7-Day Avg -5.39% | -17.16%+0.87% | -14.90%
Prior 7-Day Eod 5.90% | 6.78%-- | --
Current vs 7-Day Eod -18.92% | +15.12%-- | --
Sentiment BULLISHBEARISH

Relative Spread

Detail
ℹ
Expiry | Next
Current 34.07% | 95.34%
Calls: 24.39% | 42.00%
Puts: 43.75% | 148.68%
Prior 34.07% | 95.34%
Calls: 24.39% | 42.00%
Puts: 43.75% | 148.68%
Current vs Prior +0.00% | +0.00%
Prior 7-Day Avg 40.39% | 120.99%
Calls: 34.49% | 60.15%
Puts: 46.29% | 181.84%
Current vs 7-Day Avg -15.65% | -21.20%
Liquidity Expensive
+
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🤖 AI Insights

Strong bearish conviction with 90% of dollar volume in puts ($2.25M) vs calls ($259.2K). Light premium activity with dollar volume down 92% vs prior. Below-average activity with volume down 86% vs prior. Extreme bearish P/C ratio of 2.06 - heavy put buying.

Smart Money BEARISH
Retail Flow BEARISH
Overall BEARISH
Dollar Volume
Option Volume
Put/Call Ratio
Open Interest
Expected Move
Current BEARISH
Prior BEARISH
7-Day Avg BEARISH
Current BEARISH
Prior BEARISH
7-Day Avg NEUTRAL
Current BEARISH
Prior BEARISH
7-Day Avg NEUTRAL
Current BEARISH
Prior BEARISH
7-Day Avg NEUTRAL
Current BEARISH
Prior BULLISH
7-Day Avg BULLISH

📈 Options Analysis

🎯 Tightest Spreads
💰 Best Value Under $1
📊 High Delta (ITM)
🔥 High Volume
⏰ Backwardation
📈 Debit Spreads
📉 Credit Spreads
📅 Calendar Spreads
⚡ Straddles
🔀 Strangles
🦅 Iron Condors
🦋 Butterflies
⚖️ Ratio Spreads
🛡️ Covered Calls

Options with the tightest bid-ask spreads (<10%). Lower spreads = better fills and less slippage. Showing top 1 of results (avg 10.0%, best 10.0%)

CALLS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Jul 170.190.21$0.2010.0%2.1K0.2052.7K
PUTS (0)
No puts meet the criteria

Affordable options under $1.00 per contract. Great for defined-risk strategies with minimal capital. 3 found (avg $0.39, cheapest $0.20)

CALLS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Jul 170.190.21$0.2010.0%2.1K0.2052.7K
PUTS (2)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.00Jul 170.320.39$0.3619.4%5.5K0.2670.0K
$24.00Aug 210.550.64$0.6015.0%2610.24--

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 24 found (avg delta 0.77, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$22.00Jul 102.606.25$4.4382.4%11.00--
$23.00Jul 171.555.35$3.45110.1%300.9591
$25.00Jul 100.003.35$1.68199.4%10.91--
$24.00Jul 170.604.45$2.53152.2%300.8996
$22.50Jul 102.165.75$3.9690.7%10.78--
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$27.00Jul 100.011.15$0.58196.6%1.1K1.00--
$28.00Jul 100.113.95$2.03189.2%51.00--
$28.50Jul 100.704.45$2.58145.3%31.00--
$29.00Jul 101.094.95$3.02127.8%21.00--
$28.00Jul 170.272.23$1.25156.8%200.8410.1K

Most actively traded options today. High liquidity = easy entry/exit. 65 active (total vol 20.8K, top 5.5K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$30.00Jul 310.080.13$0.1145.5%4.1K0.09--
$28.00Jul 170.190.21$0.2010.0%2.1K0.2052.7K
$27.00Jul 100.050.11$0.0875.0%7640.237.4K
$27.00Jul 170.300.48$0.3946.2%5920.3614.0K
$29.00Jul 170.070.12$0.1050.0%3010.1048.9K
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.00Jul 170.320.39$0.3619.4%5.5K0.2670.0K
$26.00Jul 170.100.71$0.41148.8%2.1K0.4128.5K
$27.00Jul 170.901.54$1.2252.5%1.1K0.67--
$27.00Jul 100.011.15$0.58196.6%1.1K1.00--
$24.50Jul 100.000.05$0.03166.7%3140.05152

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 12 strikes (avg 117.3%, max 514.7%)

CALLS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$23.00Jul 10Jul 17340.5%55.4%514.7%3291
$24.00Jul 10Jul 17287.6%51.2%461.7%3196
$26.00Jul 10Aug 2171.6%43.1%66.1%142.0K
$30.00Jul 17Aug 2145.4%31.9%42.4%10441.9K
$29.00Jul 17Aug 2148.1%36.6%31.2%463146.4K
PUTS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$22.00Jul 17Aug 2167.0%40.1%67.2%17035.8K
$26.00Jul 10Aug 2171.6%43.1%66.1%2836.8K
$25.00Jul 10Aug 2167.1%40.6%65.1%44522.2K
$23.00Jul 17Aug 2155.4%39.6%39.9%17212.0K
$24.00Jul 17Aug 2151.2%42.4%20.7%34125.9K

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 21 found (best R:R 9.00, avg 2.88)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$28.00$29.00Jul 17$0.10$0.90$0.109.00$28.10
$28.00$30.00Jul 24$0.30$1.70$0.305.67$28.30
$28.00$30.00Jul 31$0.35$1.65$0.354.71$28.35
$26.00$27.00Aug 14$0.23$0.77$0.233.35$26.23
$27.00$29.00Aug 14$0.51$1.49$0.512.92$27.51
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$23.00$22.00Aug 21$0.13$0.87$0.136.69$22.87
$25.00$24.00Jul 17$0.23$0.77$0.233.35$24.77
$25.00$24.00Aug 21$0.28$0.72$0.282.57$24.72
$24.00$23.00Aug 21$0.31$0.69$0.312.23$23.69
$27.00$26.00Aug 21$0.31$0.69$0.312.23$26.69

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 26 found (best R:R 4.26, avg 1.05)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$25.00$26.00Jul 10$0.81$0.81$0.194.26$25.81
$26.00$27.00Aug 21$0.77$0.77$0.233.35$26.77
$24.00$25.00Jul 17$0.72$0.72$0.282.57$24.72
$24.00$25.00Jul 10$0.67$0.67$0.332.03$24.67
$26.50$27.00Jul 10$0.29$0.29$0.211.38$26.79
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$27.00$26.00Jul 17$0.81$0.81$0.194.26$26.19
$26.00$25.00Aug 21$0.53$0.53$0.471.13$25.47
$27.00$26.50Jul 10$0.20$0.20$0.300.67$26.80
$26.00$25.50Jul 10$0.18$0.18$0.320.56$25.82
$24.00$23.00Aug 21$0.31$0.31$0.690.45$23.69

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 13 found (avg debit $0.31, cheapest $0.07)

CALLS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$23.00Jul 10Jul 17$0.10340.5%55.4%
$25.00Jul 10Jul 17$0.1367.1%53.5%
$28.00Jul 10Jul 17$0.1748.4%45.3%
$24.00Jul 10Jul 17$0.18287.6%51.2%
$27.00Jul 10Jul 17$0.3132.3%40.9%
PUTS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$26.00Jul 10Jul 17$0.0771.6%33.3%
$22.00Jul 17Aug 21$0.1167.0%40.1%
$23.00Jul 17Aug 21$0.2355.4%39.6%
$25.00Jul 10Jul 17$0.2967.1%53.5%
$24.00Jul 17Aug 21$0.4751.2%42.4%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 14 found (cheapest 2.52% of stock, avg 7.55%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$27.00Jul 10$0.08$0.58$0.66$26.34$27.662.52%
$26.50Jul 10$0.37$0.38$0.75$25.75$27.252.87%
$26.00Jul 17$0.74$0.41$1.15$24.85$27.154.40%
$26.00Jul 10$0.87$0.34$1.21$24.79$27.214.63%
$28.00Jul 17$0.20$1.25$1.45$26.55$29.455.54%
$27.00Jul 17$0.39$1.22$1.61$25.39$28.616.16%
$25.00Jul 10$1.68$0.07$1.75$23.25$26.756.69%
$28.00Jul 10$0.03$2.03$2.06$25.94$30.067.88%
$25.00Jul 17$1.81$0.36$2.17$22.83$27.178.30%
$28.50Jul 10$0.03$2.58$2.61$25.89$31.119.98%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 57 found (cheapest 0.38% of stock, avg 3.34%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$28.00$25.00Jul 10$0.03$0.07$0.10$24.90$28.10
$28.50$25.00Jul 10$0.03$0.07$0.10$24.90$28.60
$27.50$25.00Jul 10$0.07$0.07$0.14$24.86$27.64
$27.00$25.00Jul 10$0.08$0.07$0.15$24.85$27.15
$29.00$23.00Jul 17$0.10$0.06$0.16$22.84$29.16
$28.00$25.50Jul 10$0.03$0.16$0.19$25.31$28.19
$28.50$25.50Jul 10$0.03$0.16$0.19$25.31$28.69
$27.50$25.50Jul 10$0.07$0.16$0.23$25.27$27.73
$29.00$24.00Jul 17$0.10$0.13$0.23$23.77$29.23
$27.00$25.50Jul 10$0.08$0.16$0.24$25.26$27.24

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 17 found (best R:R 5.67, avg credit $0.58)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
25/2628/29Aug 21$0.85$0.155.67$25.15$28.85
25/2627/28Aug 21$0.84$0.165.25$25.16$27.84
25/2629/30Aug 21$0.80$0.204.00$25.20$29.80
23/2428/29Aug 21$0.63$0.371.70$23.37$28.63
26/2728/29Aug 21$0.63$0.371.70$26.37$28.63
23/2427/28Aug 21$0.62$0.381.63$23.38$27.62
24/2528/29Aug 21$0.60$0.401.50$24.40$28.60
24/2527/28Aug 21$0.59$0.411.44$24.41$27.59
24/2526/27Jul 17$0.58$0.421.38$24.42$26.58
23/2429/30Aug 21$0.58$0.421.38$23.42$29.58

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 12 found (best R:R 4.56, cheapest $0.09)

CALLS (5)
LowMidHighExpiryDebitMax GainR:R
$23.00$24.00$25.00Jul 17$0.20$0.804.00
$22.50$23.00$23.50Jul 10$0.20$0.301.50
$26.00$26.50$27.00Jul 10$0.21$0.291.38
$26.00$27.00$28.00Aug 21$0.46$0.541.17
$26.50$27.00$27.50Jul 10$0.28$0.220.79
PUTS (5)
LowMidHighExpiryDebitMax GainR:R
$25.00$25.50$26.00Jul 10$0.09$0.414.56
$22.00$23.00$24.00Aug 21$0.18$0.824.56
$28.50$29.00$29.50Jul 10$0.10$0.404.00
$24.00$25.00$26.00Aug 21$0.25$0.753.00
$26.00$26.50$27.00Jul 10$0.16$0.342.13

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 24 found (best net $-0.53, 14 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$27.00$29.001:2Aug 14-$0.53$1.47
$28.00$29.001:2Jul 17$0.00$1.00
$25.00$26.001:2Jul 10-$0.06$0.94
$28.00$29.001:2Aug 21-$0.13$0.87
$26.00$27.001:2Aug 21-$0.31$0.69
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$26.00$25.001:2Jul 17-$0.31$0.69
$25.00$24.001:2Aug 21-$0.32$0.68
$26.00$25.001:2Aug 21-$0.35$0.65
$27.00$26.501:2Jul 10-$0.18$0.32
$26.50$26.001:2Jul 10-$0.30$0.20

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 15 found (best yield 3.44%, avg 1.05%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$27.00Aug 21$0.900.453.2%3.44%6.69%1743.3K
$28.00Aug 21$0.670.357.1%2.56%9.64%10959.4K
$27.00Jul 24$0.550.423.2%2.10%5.35%8--
$29.00Aug 21$0.400.2410.9%1.53%12.43%16297.4K
$27.00Jul 17$0.300.363.2%1.15%4.40%59214.0K
$27.50Jul 17$0.200.315.2%0.76%5.93%4--
$28.00Jul 31$0.200.287.1%0.76%7.84%23--
$28.00Jul 17$0.190.207.1%0.73%7.80%2.1K52.7K
$30.00Aug 21$0.160.1314.7%0.61%15.33%10241.9K
$28.00Jul 24$0.140.257.1%0.54%7.61%2319.2K

Current 5-Minute Volume Snapshots

Time (HH:MM) Total Volume Call Volume Put Volume Volume Change
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Prior's 5-Minute Volume Snapshots

Time (HH:MM) Total Volume Call Volume Put Volume Volume Change
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Current Put/Call Breakdown

Total Calls 11,123
Total Puts 22,879
Put/Call Ratio 2.06
Net Difference -11,756

Prior's Put/Call Breakdown

Total Calls 21,448
Total Puts 223,483
Put/Call Ratio 10.42
Net Difference -202,035

Prior 7-Day Put/Call Summary

Total Calls 170,732
Total Puts 460,690
Average Put/Call Ratio 2.32
Ratio Trend Falling

Daily Put/Call History (Last 7 Days)

Date Calls Puts Ratio Net Diff
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Upcoming Earnings - 2 Weeks Prior

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Upcoming Earnings - 1 Week Prior

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Earnings This Week

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Earnings - Day Before / Day After

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Options Activity Around Earnings

Ticker Earnings Date Days Away Call Volume Put Volume IV Rank
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Chart Title

Price — Past 7 Days

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